The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-08-16
THE YOUNG NAPOLEON II.
THRILLING STORY OF HENRY S
IVES, EX-FINANCIHR.

IVES, EX-FINANCIHR.
Starting in the Street-lveS Luckier
than Ward-Getting Control of the
Cincinnati, Hamilton and Dayton
The Baltimore and Ohio Deal-Bor-
rowing Millions.
OF Henry S. Ives, the young Wall street
financier who lately came to grief, carrying
Others with him, the New York World says
Here are all the facts as far as they are
known: Nobody ever heard much of Henry
s. Ives until about five years ago. 1t has
been learned since that he was born in
Litchfeld Conn, about twenty eight years
ago. Nobody seemed to have acquired
great deal of information as to his early
history, but it is said that his father was
custom house DETECTIVES; that he has two
sisters now living, one married and one UNI
married, but both older than he is; that he
came to New York when he was about 20
years old and secured
position in Harper's publishing house
and that he remained there for
two or three years 1t seems probable that
he kept his eyes about him while in this
establishment, if his own story is to be be-
lieved, for one of the things he used to hrag
about was that he knew the whole A G. of
printing and publishing and that he could
personally get out a book from the writing
OF it. through the type-setting, proof
reading and press work to the binding and
profitable selling of the volume. 1t is not
known that he ever made the experiment,
but he evidently had the same sublime con
fidence in himself in this respect that car
ried him through the tumultuous and pic
iai AVN N which IA
has of late figured
STARTING IN THE STREET.
It was when ne left the employ of the
Harpers, say five years ago, that he started
on his pyrotechnic career. And such bril-
liant though brief career as that has been!
1t has become the fashion of late days to
call him the young Napoleon of finance He
inheritS the title at second hand from First
Young Napoleon Ward, who put the street
into such a flutter three years ago by wreck
ing the firm of Grant & Ward, furnishing
the name of Gen. Grant, driving a national
bank into bankruptcy, and winding up in
Sing Sing with his partner Fish. Wards
career was q sIyrocket one, and when the
stick came down it struck such sound tjnan-
cial men as ex-Mayor Grace, Capt. Spicer
and Ambrose Snow, to say nothing of
Fish. But in the matter Of dollars, Wards
burSt-up was not circumstance to
that of this other. A good many
men have Teen comparing the careers
of the two youngsters, and the almost uni
versal opinion arrived at up to date is that
Ward as to Ives was as blooded trotter to
a cart-horse on the great track of finance
This is certainly so, if the amount of their
respective failures Is TO be taken as the cri-
terion. The failure of Grant IL Ward only
involved matter of a paltry $4,000, 0OO
whites Ives did the grand to the tune of more
than S15,C00,000 Not only that, but it
seemed not unlikely that Ives failed safely
for this amount, while Ward went about it
in such laundering way that he got him
self and partner Fish into prison, 1t was at
that time supposed that Ward was great
financier, but when comparisons are made it
must be admitted that ives is a financler,
whilst Ward is simply vulgar swindler.
IVES LUCKIER THAN WARD.
Now as to this genius Ives. In the first
place, he was a youngSter like Ward, being,
as stated only % years of age, while he
lacked, for several years at any rate, the
backing of the big names that Ward was
backed up with. Ives has not run foul of
the rock that has wrecked SO many finan-
ciers. He has never been a drinking man,
but has devoted all his talents and energies
to the making of money-fictitious money, as
it has turned out; but still he has been cute
enough to turn over to his sisters some
thousards-yes, probably hundreds of thous-
and of the money that was not fictitious,
and if he manages to keep out of Jail his
pyrotechnic career will not have been all
slick He is a light weight, slim-built
young fellow, physically, and nobody woul1
suppose to look at him, that he had the
genius to come TT over the able and expe-
rienced gentlemen whose heads are now
bowed in grief over the singular doings of
this clover young man.
How did he manage itl Well, when he
left the pub ishing business and dropped into
Wall street about five years ago he Sc ems to
have starred in in very lively fashion to
learn the ropes. He clerked it in two or
three houses on the street until he became
familiar with the way in which money us
m d. tier, and then he bios 9med out one
day as member OF the firm of Meeker,
ives & Co. In January, 1884, Ives went
into partnership with young man named
L. Wilson Woodruff, and i'll tho spring Of
that wear the firm of Henry s. Ives was
formei. 1t consist ID of Henry S. Ives,
''our hero" George H. Staynor, and Thomas
G. Doremus
Mr.. Staynor is gentleman very well
known in Wall street, and as to whom up TO
that time nothing disagreable had beep said
He is married man with children, has q
summer residence at Point Lookout near
Long Beach, and is supposed to have put
into the firm 100000. The third partner
was Thomas p. Doremus, who is Familiarity
known on the street as tom" Doremus
He is a son of Prof. r. Ogden Doremus, is a
young fellow of about % years of age, and
is favorably regarded, He bought seat
in the Stock Exchange, and became the
Board member of the firm, representing the
firm in the Stock Exchange in all It's deal
ings.
Whether it was intended to be so or not,
this turned out to be a very convenient ar
rangement Ives went into his first big
scheme, the familiar Mutual Union deal,
which gave him his first marking as a
black sheep. If he had been a member of
the Exchange at that time he would have
been branded and debarred. But he had
been shrewd enough to put Partner Dore-
mus on the inside 90 attend to the business
there, while he skirmshed around on the
outside But the Stock Exchange seems TO
have had virtuous spasm about that time,
and it went the length of disbarring Part
ner Doremus for the doings of Partner
Ives, a move that surely was not looked
for. Most people supposed that the s,ispen-
sion of Partner poremus, because of the
acts of the bead member of his firm, would
result in his resignation, but he did not re-
sign.
GETTING CONTROL OF THE c., II. AND 7.
Now here comes one of the interesting
chapters of the career of II. 8. Ives q Co.